• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.9 no.6
• /
• pp.47-64
• /
• 2014

Considering the network externality and spill-over effects, this paper constructs the theoretical model for analyzing the financial policies focusing on the credit guarantee system for Creative Economy, which has been set as the new policy paradigm for the Korean Economy. The analytical results show that it is as much as important to improve the efficiency of the financial markets and construct the infrastructure for reducing the information asymmetry problem which would be more serious in the creative finance. Although it is important to fill the gap due to the market failure it is also crucial to construct the appropriate financial schemes for the various stages of the innovative firms growth. Without these, the impacts of current public funding policies may crowd out the amount of private market funds for the innovative firms or reduce the possibility of commercialization of new technologies in these firms. Based on the evaluation of current related public policies from the perspectives of creative finance, we imply that the current financial policies appear to be quantity oriented not the quality based. Although the policy goals would be appropriately set for vitalizing the Creative Economy in Korea, they appear to be still unsuccessful to address the information asymmetry issue which is the major concern in vitalizing the creative economy. Thus we emphasize the market friendly policies, risk-sharing between the various market participants, revitalizing the relationship banking and efficient management of credit guarantee system in Korea based on the analytical model as well as the evaluation of related policies regarding the creative economy.

• The Journal of the Korea Contents Association
• /
• v.16 no.1
• /
• pp.214-229
• /
• 2016

Since financial crisis, sharing economy emerged as a result of economic stagnation, emerging environmental-friendly trend and increasing smartphone penetration, which led to reducing unnecessary consumption and increasing the practical usage of resources. This indicates the possibility that the sharing economy service will develop in this hyperconnectivity era in terms of increasing consumer utility. In this study, the author, therefore, empirically analyzed the factors that affect the continuous usage from the experience of service use and the causal relationship between the factors by regulating the success of sharing economy service as the continuous use after the acceptance of service. The findings demonstrated that the perceived value and network externality had a significant effect on both trust and satisfaction, and the perceived risk had a significant effect on trust. In addition, trust affected both satisfaction and continuous use intention significantly, and satisfaction also had a significant effect on continuous use intention. And the perceived value and risk, and network externality mediated trust and satisfaction, thereby having a significant effect on continuous use intention. Through this research, the author intends to provide an opportunity to enhance the competitiveness of sharing economy service under an uncertain business environment by way of identifying the success factors of the sharing economy service whose important is growing in recently years and the structural relationship between these factors.

• Journal of Technology Innovation
• /
• v.13 no.1
• /
• pp.113-139
• /
• 2005

The purpose of this study is to analyse the diffusion process of personal computer (PC) in Korea during the 1990's. To achieve the goal, five research steps have been done such as the literature survey of diffusion theory, set-up of theoretic equilibrium model of supply and demand, derivation of an equilibrium path using Hamiltonian, and empirical analysis. The empirical analysis has been performed based on that equilibrium path. The results can be summarized as follows : First, technological attribute of diffusing product influences the diffusion speed of Product. It has been proven that the size of the network has a significant effect on the diffusion of PC in empirical study Second, supply factors have an important role in the diffusion process. According to the empirical analysis, decreasing cost of production as a result of technological advance promotes the speed of diffusion. This point seems to be manifest theoretically, but existing empirical models have not included supply factors explicitly, Third, it has been found out that expectation of decreasing cost would influence the speed of diffusion negatively as expected ex ante. Theoretically this result is supported by arbitrage condition of purchasing timing.

• East Asian Economic Review
• /
• v.20 no.2
• /
• pp.229-275
• /
• 2016

We study the effect of the high-skilled emigration rate on the growth rate of the source countries. We incorporate the foreign direct investment and the policy variables into the panel model and also their interactions with the high-skilled emigration rate, as they are related to the network externality that may be created by the high-skilled emigrants working abroad. We apply the static fixed-effects model and compare it with the results obtained in the dynamic panel model with system generalized methods of moments estimators. We find the negative effect of the high-skilled emigration rate by itself and in its interaction with the foreign direct investment only in the dynamic model. However, we find positive coefficient for the interaction of the high-skilled emigration rate and the civil liberties index, which holds across the static and dynamic specifications. This implies that the effect of the high-skilled emigration rate on the growth rate of the source countries can be positive, and the extent is larger for countries with 'poor' civil liberties. The developing countries with low levels of foreign direct investment inflows and 'poor' civil liberties can best benefit from the high levels of skilled emigration outward. Through finding significant interactions with other variables, we confirm that the high-skilled emigration should be considered along with other related variables in measuring its impact on growth. The implications offer suggestions for the international trade and aid policies.

• The Transactions of the Korean Institute of Electrical Engineers P
• /
• v.61 no.2
• /
• pp.74-81
• /
• 2012

The purpose of this study provides the theoretical model for protecting the economic and social loss from the current alternative fuel vehicle which is developed without compatibility and senseless one's own through verifying the statistical significant by method of measuring analysis. The market scale of alternative fuel vehicle depends on customer's and station's expectation about the number of potential vehicle users. It is very difficult for vehicle manufacturer to make a decision on the standard alternative fuel vehicle as it might reduce profit and market share. Accordingly, the development of alternative fuel vehicle should have manufacturer confident on the potential profit in the future. Moreover, if we decide to use the non-standard fuel after we started to use the standard fuel, it would take a huge cost comparing with starting to use the standard fuel only. As a result, once one of companies starts to provide the non-standard fuel service, it is getting more difficult to use the standard fuel going forward. Consequently, we may review the possibility of choice on the standard fuel before the vehicle manufacturer starts service with non-standard fuel.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.14 no.4
• /
• pp.275-287
• /
• 2008

Noise externalities are a ubiquitous problem in modern societies. Research to estimate damages and potential efficient solutions therefore is important for addressing such problems. The results of a hedonic property model show that noise has a statistically significant and quantitatively important negative effect on property values. The key results for the best model show that damages (in year 2000 dollars) are - $5000 ${\ast}$ (ln dB), where dB is noise measured in decibels, allowing for the influence of other factors. Because ln(dB) is a strictly concave funaion, the "noise damage function"exhibits diminishing marginal effects with noise.

• ETRI Journal
• /
• v.27 no.2
• /
• pp.206-218
• /
• 2005

We measure and compare externalities of IT and R&D capital stocks in different Korean industry sectors using inter-industry input-output tables of 1985, 1990, 1995 and 2000. We also compute the multiplier effects that relate to the directions of future economic effects. The key findings are as follows. First, we observed continuous capital deepening in all nine industries over the period of 1985 to 2000. Second, the backward multipliers of IT capital were the highest in the manufacturing industry. As for inter-industry externalities, the indirect backward multipliers, which exclude intra-industry backward multiplier effects within the industry, were also the highest in the manufacturing industry. Third, the forward multiplier effects of IT capital stock were the most substantial in the construction industry during the 1980s and in the manufacturing industry thereafter. Finally, using the transition multiplier matrix reflecting the backward effects of the two capitals in the past, the economic backward effects, especially the external economic effects, are predicted to increase through 2010 among all industries. The above findings suggest that, in order to maximize the forward and backward effects of the ever-increasing IT capital, we need to formulate an industry policy reducing the cost of capital accumulation in the manufacturing industry through improvement in productivity of the IT industry.

• Asia pacific journal of information systems
• /
• v.26 no.1
• /
• pp.41-65
• /
• 2016

What prevails in the today's research on social media is a functional view of technology. Technology is regarded as a set of technical devices used to conduct specific social functions, such as personal communication, social networking, public posting, and corporate advertising, among others. This paper proposes that such a functional view of technology renders social media research unduly limited and constrained in its scope, level, and direction of inquiry. Problematizing on some representative social media research efforts in the field of IS, this paper provides an alternative perspective, that is, to view social media as a technology-for-being that exerts a deeper level of influence on our existence, molding and shaping the nature and mode of being itself. Such a technology-for-being perspective has been rarely explored or subscribed to in the present IS social media research. Building upon the new conception of social media as a technology-for-being, this essay explores the quality of being in the context of social media. Five such qualities are discussed, including virtuality, materiality, externality, liquidity, and hybridity. The essay also explores the deep structural problems of research to guide future social media research. Six of such problems include Problematize-the-Natural, Follow-the-Actor, Welcome-the-Frankenstein, Weber-meets-Frankenstein, Freud-meets-Frankenstein, and Marx-meets-Frankenstein. The essay concludes with discussions on the implications of the essay, its limitations, and suggestions for future work.

• The Journal of Korean Institute of Communications and Information Sciences
• /
• v.31 no.1B
• /
• pp.56-70
• /
• 2006

This study attempts to estimate the size of economic value that could be created by the adoption of a new internet protocol, IPv6. The existence of externality and diffusion effects in the adoption of a new platform technology makes it difficult to capture the exact costs and benefits of IPv6 adoption. Hence, this study employed multiple evaluation methods rather than relying on single method to increase the validity of results by averaging the value of different methods. Futhermore, the proposed evaluation model includes qualitative variables such as expert opinions, as well as quantitative variables, to incorporate various stakeholders' perspectives. Finally, the policy implications for IPv6 adoption and the limitations of this study are discussed.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
• /
• 2002.05a
• /
• pp.425-428
• /
• 2002

To understand and forecast the wireless internet market in Korea, we will analyse the network externalities in wireless internet market into communication network externalities and hardware/software network externalities. The wireless market has two competing streams, one is mobile internet and the other is wireless fan internet. Both are characterized by strong network externalities which lead to increasing return to stale. Mobile internet is supposed more suitable for communication and WLAN for data. However these two system will compete in some area, and the critical factor to deride the winner is supposed to be the network externalities as in so many other high-tech industries had showed.